Slide 1: Q2 2024
Q2 2024 © CTEK AB
Slide 2: Today's presenters
Today’s presenters HENRIK FAGRENIUS THOM MATHISEN CEO CFO © CTEK AB
Slide 3: A proud heritage that drives our future
A proud heritage that drives our future The CTEK story starts over 25 years ago in Vikmanshyttan, a small village in Dalarna in Sweden. This is where our founder – Swedish inventor Bengt Wahlqvist – created the first ever battery charger to use electronic pulse technology. © CTEK SWEDEN AB
Slide 4: From Sweden with love
From Sweden with love ALL OUR PRODUCTS ARE DESIGNED, DEVELOPED AND TESTED IN SWEDEN • CTEK secures its market position through high technical competence and focus on innovation throughout the development process. • About one third of the company's employees work in research and development at the
Slide 5: CTEK's two technologies and subsegments
CTEKs two technologies and subsegments EVSE DESTINATION CHARGERS PORTABLE EV CHARGERS CLIENT BRAND Installed at public destinations, offices Portable chargers for use away from Installed in garages, driveways or at etc. home (e.g. holiday homes) residential properties Low voltage CONSUMER PROFESSION
Slide 6: Professional: new divisional setup
New divisional setup effective from Q4 2023 with a greater focus on B2B customers and larger contracts within the new Professional division EVSE Previous divisional setup Product examples Low Voltage Charging point operators Chargestorm Charge Portal (SW) Connected Electrical wholesalers New divisio
Slide 7: Financial overview Q2 2024
CTEK Q2 2024 FINANCIAL OVERVIEW 212 52.9 15 MSEK PERCENT MSEK NET SALES GROSS MARGIN ADJUSTED EBITA 22 21 2.0x MSEK PERCENT CASH FLOW FROM OPERATING EVSE SHARE OF NET SALES NET DEBT /ADJUSTED EBITDA ACTIVITIES © CTEK SWEDEN AB
Slide 8: Q2 2024 Key take aways
Q2 2024 KEY TAKE AWAYS 12,8% 9,5% 9,1% 9,7% 7,1% 5,0% Organic growth and increased profitability 3,0% 1,4% • Net sales increased 6% organically to SEK 212m (199). 221 259 246 240 201 212 199 199 • The adj. EBITA margin increased by 5.7 p.p. to 7.1% (1.4). Strong increase in the Consumer division Q3'
Slide 9: Low Voltage
Low Voltage INCREASED FOCUS ON SALES AND PRODUCT PORTFOLIO Low voltage sales per division Fourth consecutive quarter on quarter growth +15% • A result of, e.g.: • Focused sales activities in the Consumer Division. +1% 202 +11% +21% • Continuously stable client brand business. 176 167 161 163 166 150
Slide 10: Q2 2024 Financials
, fe UTGANG bos Q?2 2024 Financials CTEK
Slide 11: Key financials Q2 2024
Key financials Q2 2024 Comments Q2 2024 SEKm 2024 Q2 2023 Q2 Full year 2023 Consumer 134.5 106.3 530.8 • Net sales increased to SEK 212m (199m), 6% increase adjusted for currency. Professional 77.6 92.2 352.2 Central - 0.4 1.2 • EVSE products accounted for 21% (31%) of total sales. Total net sales 2
Slide 12: Consumer Division
Consumer Division CONTINUOUSLY STRONG LOW VOLTAGE SALES 1% • Net sales increased 26% to SEK 135m 37% (106m) in Q2 2024 • Adjusted EBITDA amounted to SEK 52m (38m), corresponding to a margin of 38.4% (36.1%). 63% 99% CS ONE Consumer div. Low Voltage Professional div. EVSE Net sales and adjusted EBITD
Slide 13: Professional Division
Professional Division POSITIVE TRENDS IN BOTH EVSE AND LOW VOLTAGE • Net sales decreased with 16% to SEK 78m 37% 56% (92m) in Q2 2024. CHARGESTORM CONNECTED 3 • Adjusted EBITDA amounted to SEK -5m (-6m), corresponding to a margin of -6.5% (-6.3%). 44% 63% Professional div. Low Voltage Consumer div.
Slide 14: Cash flow and CAPEX
Cash flow and CAPEX Cash flow and financial position • Cash flow from operating activities amounted to SEK 22m (39m) in the period. • Capex during the period amounted to SEK -19m (-24m). • Cash flow after investment activities in the period was SEK 3m (14m). • Cash and cash equivalents at the end of
Slide 15: Summary
CS ONE Summary © CTEK AB
Slide 16: Summary Q2 2024
Summary Q2 2024 • Organic growth and increased profitability • Net debt ratio reduced to 2.0x (3.4) • Strong increase in the Consumer division • Positive EVSE trends © CTEK AB
Slide 17: 3 phases to get back to growth and profitability
3 phases to get back to growth and profitability To be achieved before moving to Phase 3: • Adj. EBITA on track to reach financial target • Continuous stable positive cash flow • Net debt ratio below financial target To be achieved before moving to Phase 2: • Healthy OPEX level • LTM positive cash f
Slide 18: Questions?
Questions? ctek.com © CTEK AB